ABN AMRO Mellon Global Securities Services and Mellon Global Securities Lending (Mellon GSL) – the securities lending arm of Mellon Financial Corporation – have appointed Performance Explorer to help it provide securities lending performance measurement services and benchmarking to all their underlying clients.
“We look forward to Performance Explorer delivering great value to us and to our clients,” said Kathy Rulong, Executive Director, Global Securities Lending at Mellon and Jamie M. Ball, Managing Director and Head of Capital Markets at ABN AMRO Mellon, i na joint statement. “This represents an important step in further ensuring that we continue to deliver outstanding reporting and performance measurement options to all of our clients.”
Performance Explorer is a web-based service that aims to enable customers to understand their securities lending performance by comparing individual results against the aggregated data of a broad, customizable universe of industry peers. All customer data is kept confidential and anonymous.
Currently, Performance Explorer collects aggregated data on more than 1.3 million securities lending transactions for over 72,000 securities and more than 13,000 portfolios. Recent figures compiled by the service indicated total lendable assets at almost $7 trillion and total on-loan balances at more than $1.5 trillion.
The securities lending groups at Mellon argue that adding Performance Explorer to their programmes will enable them to provide independent performance measurement
“We are delighted to have been chosen by ABN AMRO Mellon Global Securities Services and Mellon Financial Corporation to provide benchmarking and performance measurement for their underlying clients,” says Julian Pittam, Managing Director of Performance Explorer.